One indicator of sensible fiscal practices is maintaining balance between spending and revenues. Occasional deficits may be necessary.
In addition to setting standards with respect to the minimum wage, overtime, and other factors affecting worker pay, the federal government also sets standards for workplace health and safety.
Policymakers must ensure worker safety, particularly during public health emergencies.
Government budgets reflect the priorities of policymakers. They specify what programs and activities the government will support and how to raise the money needed to fund them.
One of the more significant labor-force developments of the past quarter century has been the rising participation rate of older Americans.